Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Percentage of total sales Sales Variable expenses Contribution margin Fixed expenses Net operating income White 48 % $ 326,400 97,920 $ 228,480 Product Fragrant Loonzain 20 % 32 % 100 % $ 136,000 100 % $ 217,600 100 % 30 % 108,800 80% 119,680 55 % 70 % $ 27, 200 20 % $ 97,920 45 % Total 100 $ 680,000 326,400 353,600 228,800 $ 124,800 100% 48 % 52 % Dollar sales to break-even Fixed expenses CM ratio $228,800 0.52 = $440,000 As shown by these data, net operating income is budgeted at $124,800 for the month and the estimated break-even sales is $440,000. Assume that actual sales for the month total $680,000 as planned. Actual sales by product are: White, $217,600; Fragrant, $272,000; and Loonzain, $190,400. Required: 1. Prepare a contribution format income statement for the month based on the actual sales data. 2. Compute the break-even point in dollar sales for the month based on your actual data. Prepare a contribution format income statement for the month based on the actual sales data. Gold Star Rice, Ltd. Contribution Income Statement Product White Loonzain Total Fragrant % Percentage of total sales % % % % % % % 0 % % % 0 % % % $ 0 $ 0 $ 0 0 % 0 0 % $ 0 Compute the break-even point in dollar sales for the month based on your actual data. (Round your answer to the nearest whole dollar amount.) Break-even point in dollar sales